The ES rallied >100 points in the last 15 minutes to close ~35 points above the cash. Is there a story on the wind about the Fed jumping in this weekend or was it just anticipation of same?
what crash? monthly chart of S&P.....you guys are habituated to 5 min and 1 M I think. do I need to say more?
%% I cashed out of TZA before then; I don't like violent short covering rallies.I heard a FED official say on talk radio early, it was too soon for rate cut. Even though he sounded truthful; QQQ closed above 200dma..........................One elite asked me ''how do you know it was short covering?? '' I said because I closed out TZA, not that it was a violent deal.......................................
"Crash Down, Crash UP" was the caption of the cartoon. I agree with you about crashes... we've had only one genuine... October 19, 1987... -22% in one day.
Gravity lessons? WHAT CRAP!!!! normal market action in this cycle/STAGE of the bull market. it is the same as us shitting every morning....THE WASTE MUST BE REMOVED
Just nutty, bad virus news = SELL and hint of good = BUY, it'll find it's level, turn to FEAR then nobody will be playing so dead sideways market with occasional huge spikes either way based on news. Summer Doldrums early!!
If you look at the weekly charts, the trend is still up but, the chicken littles love to remind us how smart they are and how they have things figured out. Okay, if you say so. Not that it changes reality but, some traders need to lose their heads. So be it. Life goes on.